AI-powered ecommerce recommendation engine Constructor nabs $55M

Constructor IO

Constructor, a San Francisco, California-based ecommerce personalization startup, today announced that it raised $55 million in a series A round led by Silversmith Capital Partners. The funding, which brings the company’s total raised to $61.5 million, will be put toward product development, hiring, and go-to-market efforts, according to CEO Eli Finkelshteyn.

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Axelera, which is developing an AI accelerator chip, raises $12M


Axelera AI, a Dutch AI semiconductor startup, today emerged from stealth with $12 million in seed funding led by Bitfury, a security and infrastructure provider for the Bitcoin blockchain. Innovation Industries Fund participated in the round, which the company says will support developing of AI apps at the edge.

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AI edge hardware startup Deep Vision nabs $35M


Deep Vision, a company developing an AI accelerator chip and software suite for edge computing workloads, today announced that it closed a $35 million series B financing round led by Tiger Global, with participation from Exfinity Venture Partners, Silicon Motion, and Western Digital. According to CEO Ravi Annavajjhala, the proceeds will be put toward product development as Deep Vision looks to ramp up manufacturing of its hardware for early customers.

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Data operations platform Satori nabs $20M


Data operations platform Satori today announced that it raised $20 million in a series A round led by B Capital Group and Evolution Equity Partners, with participation from Satori’s seed investor YL Ventures. The company says it’ll use the funds, which bring its total raised to $25 million, to support product R&D and expand its go-to-market operations in the U.S.

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Database startup SingleStore raises $80M


Database startup SingleStore today announced that it raised $80 million in a series F funding tranche led by Insight Partners, bringing its total raised to over $319 million at a post-money valuation “just shy” of $1 billion. Khosla Ventures, Dell Capital, Rev IV, Glynn Capital, and Google Ventures also participated in the round, which CEO Raj Verma says will be put toward product development and improving awareness of SingleStore’s managed database service offering.

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Large language models aren’t always more complex


Language models such as OpenAI’s GPT-3, which leverage AI techniques and large amounts of data to learn skills like writing text, have received an increasing amount of attention from the enterprise in recent years. From a qualitative standpoint, the results are good — GPT-3 and models inspired by it can write emails, summarize text, and even generate code for deep learning in Python. But some experts are skeptical that the size of these models — and their training datasets — correspond to performance.

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SEO optimization platform Botify lands $55M

Botify, provider of search engine optimization tools and apps, today announced that it raised $55 million, bringing its total raised to date to $82 million. CEO Adrien Menard says that the funding — a series C, led by InfraVia Growth with participation from Bpifrance, Eurazeo, and Ventech — will enable the company to grow its platform, develop its partner ecosystem, and expand its global footprint as it focuses on product R&D.

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Xerox-backed field service startup CareAR raises $10M

Care AR

Customer expectations and needs are on the rise, exacerbating the challenge for companies facing a higher volume of customer requests during the pandemic. The issue is acute in field service work, where employees have to work on equipment with varying technical specifications — often in confined, bandwidth-constrained, and hard-to-reach spaces. In a recent survey by The Service Council, over 90% of field workers said that more knowledge is required to service modern products while nearly 70% said that products are more complex today.

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Omnichannel communications platform Trengo nabs $36M


Trengo, a Dutch omnichannel communications platform, today announced that it raised $36 million in series A funding led by Insight Partners and Peak Capital. With the new funds, Trengo aims to attract engineering talent, grow internationally, and develop its platform further, according to CEO Patrick Meutzner.

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Rafay, a Kubernetes operations management platform, raises $25M


Rafay Systems, a platform for software container management, has raised $25 million in series B funding led by ForgePoint Capital with participation from Ridge Ventures, Costanoa Ventures and Moment Ventures. The funds will be used to hire engineers and expand Rafay’s sales and marketing teams as well as grow its customer success operations, the company said in a press release.

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CoCoPie, which optimizes AI for edge devices, raises $6M


CoCoPie, a startup developing a platform to optimize AI models for edge devices, today announced that it raised $6 million in a series A funding round led by Sequoia China Seed Fund. The capital, which values the company at $50 million post-money, will be put toward R&D and growing CoCoPie’s customer base, according to CEO Yanzhi Wang.

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Process automation startup Leapwork nabs $62M


No-code automation platform Leapwork today announced it has closed a $62 million series B round co-led by KKR and Salesforce Ventures. The company says the investment, which gives Leapwork a post-money valuation of $312 million, is the largest ever in Denmark and will be used primarily to recruit new full-time employees.

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Involve AI, a startup using AI to bolster customer success, today announced it has raised $16 million in a series A round led by Sapphire Ventures and other investors. The company says the capital will be put toward product development and hiring on the engineering, data science, and go-to-market sides.

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Urbint, which uses AI to predict threats to infrastructure, nabs $60M


Urbint, a company developing software that can predict threats to critical infrastructure, today announced that it raised $60 million in a series C funding round led by Energize Ventures with participation from American Electric Power, and OGCI Climate Investments, as well as existing investors Energy Impact Partners, National Grid Partners, Blue Bear Capital, and Salesforce Ventures.

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Moesif digs into API analytics with $12M raise


API analytics startup Moesif today announced that it raised $12 million in a series A round led by Craft Ventures, with participation from previous investor Merus Capital. The new funding, which brings the San Francisco, California-based startup’s total raise to $15.5 million, will be used to hire across engineering, sales, developer relations, and customer success, according to CEO Derric Gilling.

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The business value of clustering algorithms

A single type of machine learning algorithm can be used to identify fake news, filter spam, and personalize marketing materials. Known as clustering algorithms, or “clustering” for short, they can automatically discover natural groupings of events, people, and objects in large datasets.

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Call center automation startup Balto secures $37M

Balto Software

Balto, a call center automation startup based in St. Louis, Missouri, today announced that it raised $37 million in a series B funding round led by Stripes, with participation from RingCentral Ventures, Sierra Ventures, TIA Ventures, OCA Ventures, Stage Venture Partners, SaaS Venture Capital, Sandalphon Capital, Cultivation Capital, and Atreides Management. The capital brings the company’s total funding to $51.2 million so far, and CEO Marc Bernstein says it’ll be used to “make leaps” in closed-loop reporting, allowing customers to scale top-performing agent behavior.

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Foundation models risk exacerbating ML’s ethical challenges 

Machine learning is undergoing a paradigm shift with the rise of models trained at massive scale, including Google’s BERT, OpenAI’s DALL-E, and AI21 Labs’ Jurassic-1 Jumbo. Their capabilities and dramatic performance improvements are leading to a new status quo: a single model trained on raw datasets that can be adapted for a wide range of applications. Indeed, OpenAI is reportedly developing a multimodal system trained on images, text, and other data using massive computational resources, which the company’s leadership believes is the most promising path toward AGI — AI that can learn any task a human can.

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Automation-as-a-service startup Rapid Robotics raises $36.7M

Rapid Robotics

Rapid Robotics, a startup providing out-of-the-box automation solutions for manufacturers, today announced it has raised $36.7 million in a series B round co-led by Kleiner Perkins and Tiger Global, with participation from NEA, Greycroft, Bee Partners, and 468 Capital. The round, which values Rapid at $192.5 million post-money, brings the company’s total funding to date to $54.2 million.

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AI-powered design platform Uizard picks up $15M


Uizard, a startup developing tools to transform UI images into code for building apps and websites, today announced that it raised $15 million in funding from Insight Partners with participation from Mariano Suarez-Battan, byFounders, LDV Capital, and av8 Ventures. According to CEO Mariano Suarez-Battan, the proceeds will be used to grow Uizard’s marketing and commercial teams and hire new talent globally, with a focus on Europe.

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